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Gold, Nasdaq gain

Futures were mixed after varied results on markets yesterday, with the Nasdaq again the standout in the US.
Gold, Nasdaq gain Gold, Nasdaq gain Gold, Nasdaq gain Gold, Nasdaq gain Gold, Nasdaq gain

Centerra Gold started commercial production at Öksüt in Turkey last week

Staff reporter

The tech-heavy index crossed the 10,000 mark for the first time, Reuters noted, and closed at a fresh record high for the second day in a row, at 9,953.75.

European markets were muted, the S&P 500 finished down 0.78% while Australia's S&P/ASX 200 closed up 2.44%.

The gold price has risen to US$1,715 an ounce on the spot market ahead of the US Federal Reserve's Federal Open Market Committee wrapping up a two-day policy meeting today, with investors awaiting remarks on the state of the economy.

Gold miners enjoyed gains in Toronto, where Barrick Gold (TSX: ABX) rose 3.65% and Centerra Gold (TSX: CG) closed up 5.76% after the producer was upgraded to outperform by CIBC Equity Research.

PolyMet Mining (TSX: POM) shot to a one-year high intraday of C$1.30 on no news, before closing up almost 74% to 66c.

Its last update on May 7 said it had received favourable decisions in six court cases challenging approvals for its NorthMet copper-nickel-precious metals project in Minnesota, with five still pending.

Elsewhere, precious metals producer Fresnillo (LSE: FRES) rose 3.83% in London.

Freeport-McMoRan (NYSE: FCX) finished up just 0.18% despite the copper price strengthening.

SHFE copper touched 46,400 yuan yesterday - the highest since February 20, Marex Spectron's Anna Stablum said from the LME desk (Singapore).